Newsletter - 4th October 2020 to 10th October 2020

Statistics reveal that Dubai and Israel are the Middle East’s main diamond centres and with UAE and Israel normalising ties Israeli’s who normally trade in Belgium are likely to shift focus to Dubai for diamond trade and also other business opportunities.

 

UAE commits to encouraging tourism and improving safety of travel

During the virtual G20 Tourism Ministers Meeting, UAE affirmed to support international efforts in encouraging tourism and enhancing the safety of travel experience while adhering to COVID-19 protocols.

 

MOHAP launches ‘Post Office’ initiative

UAE’s Ministry of Health and Prevention launched the ‘Post Office’ initiative to enhance the information management of electronic health insurance claims. This initiative is expected to introduce better controls over the insurance system to reduce misuse of financial resources. 

 

CBUAE and DOF strengthen digital transformation for public services

The Central Bank of UAE and the Dubai Department of Finance signed a deal that allows government entities in Dubai and their customers to access CBUAE’s direct debit service to enable customer payments through other banks in the UAE. This service will ensure increased efficiency in the collection process. 

 

Recovery within Dubai’s private sector gains momentum

The Purchasing Managers’ Index reflected modest improvement in business conditions within Dubai’s non-oil private sector. As businesses recorded momentum of recovery, the decline in employment came to a moderate pace and business expectations saw slight improvement. 

 

ECI secures non-oil trade worth AED 4 billion to enhance exporters’ recovery

The Etihad Credit Insurance (ECI) announced issuing more than 1400 revolving credit guarantees, securing almost AED 4 billion worth non-oil exports, in H1 2020. Aimed at boosting national export activity and diversifying the economy, ECI has insured non-oil exports to more than 70 countries thereby providing exporters and re-exporters a safety net.

 

ADIO and The Israel Export Institute lay foundation for strong trade ties

Abu Dhabi Investment Office and The Israel Export Institute signed a cooperation agreement to strengthen collaboration on investments, facilitate introductions with potential investee companies in both markets, conduct joint events and support industry delegations.